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Chris holds a PhD, an MA and BA in Economics from the University of East Anglia. At Fideres Chris has provided expert economic advice on class action complaints against Amazon, Facebook and Apple. He has written expert reports, developed models to quantify damages, and developed analysis of market definition and abuse of dominance (monopolisation) in digital aftermarkets and multi-sided platforms. Before joining Fideres, Chris spent 7 years as a Competition Expert for the OECD where he led the economic thinking on antitrust in digital markets, as well the role for competition law in delivering inclusivity. He published numerous papers and led a working party of the OECD Competition Committee in developing new international standards on competitive neutrality and competitive assessment in light of the digitalisation of the economy. Chris has advised the UK Government’s Department of Trade & Industry on the benefits of competition policy, and the UK Competition Commission (predecessor to the Competition and Markets Authority) on digital mergers, retail market investigations and competition cases. He was an advisor to the Co-operation and Competition Panel on mergers, market studies and antitrust in publicly-funded healthcare markets, and later became Director of Competition Economics at the UK Healthcare Regulator. Chris is a founding member of the Centre for Competition Policy of the University of East Anglia. 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1h-16c-.55228 0-1-.44772-1-1zm0 6c0-.5523.44772-1 1-1h10c.5523 0 1 .4477 1 1s-.4477 1-1 1h-10c-.55228 0-1-.4477-1-1zm0 6c0-.5523.44772-1 1-1h5c.55228 0 1 .4477 1 1s-.44772 1-1 1h-5c-.55228 0-1-.4477-1-1z" fill="rgb(0,0,0)" fill-rule="evenodd"/></svg> </a> </div></div> </header><style>.breakdance .bde-section-36062-100{background-color:#616161;background-image:url(https://fideres.com/wp-content/uploads/2023/07/shutterstock_2173828693-scaled.jpg);background-repeat:no-repeat;background-position:center center}.breakdance .bde-section-36062-100>.section-background-overlay{background:linear-gradient(99deg,rgba(0,0,0,1) 0%,rgba(0,0,0,0) 100%)}.breakdance .bde-section-36062-100>.section-background-overlay{opacity:0.7}</style><section class="bde-section-36062-100 bde-section"> <div class="section-background-overlay"></div> <div class="section-container"><h1 class="bde-heading-36062-101 bde-heading"> The Bottleneck On Justice </h1><div class="bde-div-36062-120 bde-div"> <ul class="bde-post-meta-36062-102 bde-post-meta"> <li class="ee-postmeta-author-wrap"> <span class="ee-postmeta-author"><span class="ee-postmeta-before">By </span>Chris Pike</span> </li> <li class="ee-postmeta-custom-wrap"> <span class="ee-postmeta-custom">July 19, 2023</span> </li> <li class="ee-postmeta-custom-wrap"> <span class="ee-postmeta-custom">Research</span> </li> </ul><div class="bde-shortcode-36062-119 bde-shortcode"> <span class="span-reading-time rt-reading-time"><span class="rt-label rt-prefix">Reading Time:</span> <span class="rt-time"> 4</span> <span class="rt-label rt-postfix">minutes</span></span> </div> </div></div> </section><section class="bde-section-36062-103 bde-section"> <div class="section-container"><div class="bde-rich-text-36062-104 bde-rich-text breakdance-rich-text-styles"> <h2><span class="ui-provider fz b c d e f g h i j k l m n o p q r s t u v w x y z ab ac ae af ag ah ai aj ak" dir="ltr" style="font-family: proxima-nova-light">What Do UK Mobile Contract Price Rises Tell Us About The Bottleneck On Justice?</span></h2> <p><span style="font-family: proxima-nova-light">Following news coverage on the role of profits in driving UK inflation, including the telecoms price increases first flagged by Fideres, questions have been asked in government and beyond as to whether UK competition agencies and regulators have done enough to run an inclusive competition enforcement policy. In response, the CMA has <a href="https://www.gov.uk/government/consultations/prioritisation-principles">set out</a> how it plans to change its priorities to protect consumers from the cost-of-living crisis.</span></p> <p><span style="font-family: proxima-nova-light">For example, the Guardian (quoting Fideres) ran an <a href="https://www.theguardian.com/business/2023/jun/27/mobile-and-broadband-firms-accused-of-fuelling-uk-greedflation-with-major-price-hikes">investigation</a> into parallel (mid-contract) price increases by UK telecoms and broadband providers, while the Financial Times (again quoting Fideres), questioned the implications of this conduct for the proposed Vodafone/Three merger. </span></p> <p><span style="font-family: proxima-nova-light">The Guardian’s findings reflected the same concerns that Fideres, had <a href="https://www.bloomberg.com/news/articles/2021-06-18/u-k-told-mobile-operator-price-hikes-may-be-uncompetitive?leadSource=uverify%20wall">asked Ofcom to investigate</a> in <a href="https://fideres.com/uk-mobile-contract-prices-investigation/">2021</a>, but which Ofcom choose not to examine. This is perhaps understandable given the mismatch between the need for investigations into anti-competitive conduct across the UK, and the resources available to undertake them. However, it also illustrates the pressing need to open up the scope for private actions by consumer (and worker) representatives and civil society groups against anti-competitive behaviour.</span></p> <p><span style="font-family: proxima-nova-light">Telecoms firms have for many years <a href="https://www.ofcom.org.uk/__data/assets/pdf_file/0021/237504/bt.pdf">complained</a> about low rates of return in the UK. They have argued that their inability to keep up with the profit margins others were extracting from less competitive markets meant that consolidation was required for investment. However, <a href="https://www.ofcom.org.uk/__data/assets/pdf_file/0036/209799/market-structure,-investment-and-quality-in-the-mobile-industry-discussion-paper.pdf">regulators</a> and independent <a href="https://www.balancedeconomy.net/wp-content/uploads/2022/04/Vodafone-3-merger-FINAL.pdf">economists</a> find no reliable link between less competition and increased market investment, and we are all suffering the disastrous consequences of underinvestment by <a href="https://www.theguardian.com/environment/2022/nov/15/water-firms-may-owe-uk-customers-163m-for-spillages-say-experts">water monopolists</a>. So, regulators have admirably done their best to block the repeated efforts to force through mergers.</span></p> <p><span style="font-family: proxima-nova-light">When Fideres wrote to Ofcom in 2021, it appeared to us that the big mobile network operators had decided that, while mergers were not possible, “competition is for losers”, as Peter Thiel says. Instead of competing to offer better prices in the hope of winning customers, they seemed to have recognized that their interests were better served by mirroring one another’s price increases, and the introduction of terms and conditions that lock consumers into paying higher prices midway through their contract.</span></p> <p><span style="font-family: proxima-nova-light">Industry spokesmen claimed the price hikes reflected cost increases across the market. The uncanny implication of their argument was that:</span></p> <ol> <li><span style="font-family: proxima-nova-light">these cost increases were identical across firms, and</span></li> <li><span style="font-family: proxima-nova-light">they could, somehow, accurately predict that future cost increases would continue to be identical and would exceed economy-wide inflation by 3.9%.</span></li> </ol> <p><span style="font-family: proxima-nova-light">The industry also disingenuously suggested consumers could simply switch to firms offering better-value deals. In fact, none of the Big Four (or the smaller brands that they control) were offering deals without the same price ratcheting mechanism. Since these firms collectively accounted for more than 90% of the market, consumers’ options to switch to better deals were extremely limited (and they have only become more so since then).</span></p> <p><span style="font-family: proxima-nova-light">The idea that the price ratchet was the result of synchronized, identical cost increases is hard to believe and should have merited a close look in 2021. Such an investigation might have explored whether or not this impressive foresight was achieved by some of them through serendipity (each independently reaching the same conclusion), price-fixing (agreeing amongst one another), or, by recognizing they would all make bigger profits if they chose to ignore the opportunity to increase sales by competing for customers and instead simply followed the price increases of others. It was disappointing that instead of investigating, Ofcom stood by and watched. It is however true that Ofcom, the CMA, and other competition regulators have limited resources to investigate the huge variety of potentially anti-competitive behaviour occurring in markets across the economy (the CMA has just one fifth of the staff that the Bank of England). In that context it is unsurprising that profit margins have risen over the last <a href="https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1075230/State_of_Competition.pdf">43 years</a>, that competition across the economy has deteriorated, and that large parts of the legal framework are, in practice, barely applied.</span></p> <p><span style="font-family: proxima-nova-light">Against this backdrop the UK and EU sensibly created the opportunity for private enforcement by consumer representatives, civil society groups and small businesses to complement the efforts of under-resourced regulators. However, there remain large gaps in that regime which prevent those groups from challenging conduct that the regulators are unwilling or unable to prioritize. For example:</span></p> <ul> <li><span style="font-family: proxima-nova-light">Consumer representatives cannot in practice seek injunctions to temporarily stop potentially anticompetitive conduct or agreements.</span></li> <li><span style="font-family: proxima-nova-light">Consumer representatives cannot in practice take retrospective collective actions if the overcharge in the prices they paid were not in the hundreds of millions – e.g., in the excessive <a href="https://www.theguardian.com/business/2023/apr/19/telecoms-firms-accused-of-overcharging-landline-only-customers-by-200m">pricing of landlines</a> to vulnerable elderly customers.</span></li> <li><span style="font-family: proxima-nova-light">Equally, citizens and/or workers cannot in practice take collective actions unless the estimate of the non-financial harm they suffer (to their health, privacy, wages, or the quality of the air they breathe) is not in the hundreds of millions.</span></li> <li><span style="font-family: proxima-nova-light">Finally, workers in the developing world that produce goods and services that are sold in UK markets have no opportunity whatsoever to challenge anticompetitive behaviour taken by firms competing in UK markets. </span></li> </ul> <p><span style="font-family: proxima-nova-light">The CMA will presumably be drawing on the OECD’s work <a href="https://www.oecd.org/daf/competition/gender-inclusive-competition-proj-7-incorporating-gender-as-a-prioritization-principle.pdf">identifying</a> that competition agencies’ limited resources can be prioritized to ensure that competition rules can drive <a href="https://www.oecd.org/competition/inequality-a-hidden-cost-of-market-power.htm">inclusive</a> growth. However, unlocking the legal and practical restrictions on private enforcement, which deny consumers and workers access to justice for anticompetitive misconduct in UK markets, would help the agencies to keep pace. Removing this bottleneck would make a huge contribution towards making sure that UK markets work for everyone. </span></p> </div><div class="bde-rich-text-36062-111 bde-rich-text breakdance-rich-text-styles"> </div><div class="bde-shortcode-36062-105 bde-shortcode"> <div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"><img src="https://fideres.com/wp-content/uploads/2022/08/chrispike.png" width="100" height="100" alt="" itemprop="image"></div><div class="saboxplugin-authorname"><a href="https://fideres.com/author/chris_pike/" class="vcard author" rel="author"><span class="fn">Chris Pike</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><p>Chris joined Fideres in 2021. Chris holds a PhD, an MA and BA in Economics from the University of East Anglia. At Fideres Chris has provided expert economic advice on class action complaints against Amazon, Facebook and Apple. He has written expert reports, developed models to quantify damages, and developed analysis of market definition and abuse of dominance (monopolisation) in digital aftermarkets and multi-sided platforms.</p> <p>Before joining Fideres, Chris spent 7 years as a Competition Expert for the OECD where he led the economic thinking on antitrust in digital markets, as well the role for competition law in delivering inclusivity. He published numerous papers and led a working party of the OECD Competition Committee in developing new international standards on competitive neutrality and competitive assessment in light of the digitalisation of the economy.</p> <p>Chris has advised the UK Government’s Department of Trade & Industry on the benefits of competition policy, and the UK Competition Commission (predecessor to the Competition and Markets Authority) on digital mergers, retail market investigations and competition cases. He was an advisor to the Co-operation and Competition Panel on mergers, market studies and antitrust in publicly-funded healthcare markets, and later became Director of Competition Economics at the UK Healthcare Regulator. Chris is a founding member of the Centre for Competition Policy of the University of East Anglia. He remains an associate of the Centre, a member of various advisory boards at non-profit making organisations, and peer reviews papers for the Journal of Competition Law and Economics & the Journal of Antitrust Enforcement.</p> </div></div><div class="clearfix"></div></div></div> </div></div> </section><section class="bde-section-36062-124 bde-section"> <div class="section-container"><div class="bde-columns-36062-125 bde-columns"><div class="bde-column-36062-126 bde-column"> <div class="bde-shortcode-36062-123 bde-shortcode"> <div class='next-post-bg' style='background-image: url(https://fideres.com/wp-content/uploads/2023/09/MicrosoftTeams-image-106-scaled.jpg);'><a href='https://fideres.com/it-rolls-down-hill/' class='next-post-link'><span class='link-label'>Previous Post</span><span class='post-title'>It Rolls Down Hill</span></a></div><br> </div> </div><div class="bde-column-36062-127 bde-column"> <div class="bde-shortcode-36062-122 bde-shortcode"> <div class='prev-post-bg' 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